Design

You can go for Canada. Colleges there provide the course you are looking for. The maximum cost involved would be around 14 lacs and you can work part time too for 20 hours/week. And they allow you to stay after your studies for the same duration as your course to look for jobs. If you manage to get a job in that time, you can extend your VISA to work there.
I hope this helps you to some extent.
You can always take help of certain free counselors if you are in some doubt.
All the best.

Hello Kashyap,
Yes, what you are saying makes sense. You should go for that diploma.

No, not really. Just open it and you'll know almost anything regarding the matter:
http://www.iifaindia.org/admissions_procedure.html

Well, you can search for the course of industrial designing. It's a unique course that offers white collar job.
To do this course from an IIT, search for the exam named CEED (common entrance exam for design).

The college does not offer Diploma in fashion designing.

You will only be able to join NIFT after completing 12th successfully and clear the entrance exam conducted by NIFT.

Masters in designing will be design as a whole, whereas, Masters in fashion management will focus on fashion management. So, if you have interest in fashion management so this is the best course for you.